The Organ Transplant Immunosuppressant Drugs Market Is Estimated To Witness High Growth
Immunosuppressant drugs play a vital role in organ transplantation procedures by preventing organ transplant rejection. These drugs function by suppressing the immune system of recipients so that their bodies do not recognize and attack the transplanted organ as a foreign object. Common organ transplant immunosuppressant drugs include calcineurin inhibitors, mTOR inhibitors, antiproliferative agents, and corticosteroids.
The Organ Transplant Immunosuppressant Drugs Market is estimated to be valued at US$ 5.17 Bn in 2023 and is expected to exhibit a CAGR of 3.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends fueling the growth of the organ transplant immunosuppressant drugs market is the increasing number of organ transplantation procedures being performed worldwide. According to the Global Observatory on Donation and Transplantation, over 143,000 solid organ transplantations were performed globally in 2020. Moreover, the demand for organ transplantation is exceeding the supply of donor organs. This has resulted in a widening gap between the number of patients waiting for transplants and the number of actual transplant procedures performed. Thus, increasing the need for effective immunosuppressant drugs to prevent organ rejection. Additionally, upcoming drugs in clinical trials with novel mechanisms of actions are expected to enter the market and gain significant shares during the forecast period.
Porter’s Analysis
Threat of new entrants: The organ transplant immunosuppressant drugs market has high barriers to entry due to stringent regulation as well as high investment required for R&D.
Bargaining power of buyers: The bargaining power of buyers is moderate as there are many established manufacturers providing organ transplant drugs.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to less differentiation in raw materials and emergence of alternative suppliers.
Threat of new substitutes: There is minimal threat from substitutes given there are limited treatment alternatives available for organ transplant patients.
Competitive rivalry: The market is highly competitive with major focus on new product innovations and portfolio expansion.
SWOT Analysis
Strength: Wide range of product offerings and strong R&D capabilities of major players. Growing prevalence of organ failure diseases globally.
Weakness: High costs associated with drugs limits patient access. Complex manufacturing processes increase production costs.
Opportunity: Rising healthcare expenditure in emerging nations. Collaborations for development of cost-effective biosimilars.
Threats: Stringent regulations for product approval. Patent expiries of blockbuster drugs.
Key Takeaways
The Global Organ Transplant Immunosuppressant Drugs Market Growth is expected to witness high, exhibiting CAGR of 3.1% over the forecast period, due to increasing organ transplantation procedures. Asia Pacific to emerge as the fastest growing region supported by large patient population.
Regional analysis: North America dominated the market in 2023 owing to heavy investments for new drug launches and medical infrastructure. However, Asia Pacific is expected witness highest CAGR during the forecast period due to increasing healthcare expenditure and large number of patients requiring organ transplant in countries such as India and China
Key players: Key players operating in the organ transplant immunosuppressant drugs market are Astellas Pharma, Genzyme Corporation, Accord Healthcare Ltd., Watson Pharmaceuticals, Inc., Novartis AG, Mylan Laboratories, Inc., GlaxoSmithKline plc., Belcher Pharmaceuticals LLC, Leo Pharma As, Glenmark Pharmaceuticals Ltd., TFF Pharmaceuticals, Inc., TolerogenixX GmbH, Veloxis Pharmaceuticals Inc., Dr. Reddys Laboratories Ltd., Panacea Biotec Ltd., Strides Pharma Global Pte Ltd., and Hoffman La Roche.
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